Skyline Renewables has announced the purchase of 117MW wind portfolio from NJR Clean Energy Ventures (CEV), a clean energy subsidiary of New Jersey Resources.
The wind farms Skyline currently acquired are located in Iowa, Kansas, Pennsylvania and Wyoming locations in the US, providing clean renewable energy to major population centers across the country.
Skyline Renewables, which was formed last year as a partnership between Ardian and Transatlantic Power Holdings, said that with this latest acquisition it would grow its wind portfolio to 803MW of controlled capacity.
Skyline Renewables president & CEO Martin Mugica said: “We set out to become a leading North American clean independent energy platform. This latest acquisition marks an important step forward as it diversifies our portfolio geographically and it marks the first tax equity financing fully negotiated by Skyline Renewables.
“We are excited to extend our partnership with Capital One as tax equity partner with this portfolio and look forward to further opportunities as we execute our strategy. We are ambitious, nimble and we have deep industry expertise.”
In March 2018, Skyline Renewables announced its first acquisition of 60MW project Whirlwind Energy, in NW Texas, followed by acquisition of 166MW Hackberry Wind Farm in September 2018, which is also located in NW Texas.
Capital One managing director and alternative energy & project finance head George Revock said: “We are delighted to partner with Skyline Renewables to help them complete this acquisition. This investment is emblematic of Capital One’s commitment to be a leading supplier of financing to the renewable energy sector.”
In October 2018, the company announced the acquisition of Starwood Energy’s 51% interest in the Horse Creek and Electra wind farms, both 230 MW projects.
Horse Creek and Electra wind farms, which were constructed by Starwood Energy, are located in Haskell and Wilbarger counties, Texas. The two wind farms are powered by 100 of GE’s 2.3MW turbines.
To support Skyline Renewables in tax equity financing for the deal, CCA Capital served as advisors.